BC earnings analysis
What we found in BC's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Brunswick Corporation's Q1 2026 revealed a significant recovery with revenues of $1.38 billion, up 12.8% year-over-year, and adjusted diluted EPS soaring to $0.70, exceeding expectations. Although cash flow from operations remained negative at -$63.7 million, strong segment performance indicated continued demand and market share gains, particularly in Propulsion and Engine P&A segments.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Growth
- Q1 2026 revenue reached $1.38 billion, a 12.8% increase compared to Q1 2025.
- EPS Surprise
- Adjusted diluted EPS amounted to $0.70, surpassing consensus estimates of $0.45.
- Propulsion Segment Strength
- Propulsion segment net sales grew 17.3% to $571.3 million driven by strong OEM orders.
- Engine P&A Segment Growth
- Engine P&A sales increased by 13.5% to $289.8 million, benefiting from early season boating participation.
- Cash Position Improvement
- Total cash, cash equivalents, and short-term investments improved to $278.6 million from $257.6 million at year-end.
- Capital Expenditure Focus
- Capital expenditures totaled $57.2 million, reflecting ongoing investments in new products and technologies.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Negative Operating Cash Flow
- Operating cash flow was negative at -$63.7 million, worsening from -$13.4 million in Q1 2025.
- Increased Debt Levels
- Total debt rose to $2.3 billion from $2.1 billion in Q4 2025, increasing leverage concerns.
- Diminished Operating Earnings
- Operating earnings reduced to $50.3 million from $56.3 million YoY, driven by rising costs and tariffs.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $0.7
- Gross margin
- 24.9%
- Operating margin
- 3.6%
- Segment
- Propulsion
- Segment
- Engine P&A
- Segment
- Navico Group
- Segment
- Boat
What they said about what is next.
Management raised full-year EPS guidance to $4.00 - $4.50, reflecting confidence in continued demand.
The filing reads better than the one before it.
What came before.
- 10-K · February 13, 2026
- Brunswick presents a diversified, technology-focused marine portfolio with clear strategic emphasis on product innovation (ACES: Autonomy, Connectivity, Electrification, Shared-Access), scale in propulsion and boats,…
- 10-Q · October 30, 2025
- Brunswick reported Q3 2025 revenue of $1,360.2 million, up from $1,273.3 million in Q3 2024, but results were dragged down by large restructuring and impairment charges that produced an operating loss of $242.2 million…
- 10-K · February 14, 2025
- Brunswick emphasizes a technology-driven, multi-pronged strategy (ACES: Autonomy, Connectivity, Electrification, Shared Access) and heavy product cadence ("launched over 100 products in 2024") to expand boating…
- 10-Q · October 30, 2024
- Brunswick reported Q3 net sales of $1,273.3 million and diluted EPS of $0.67, with operating earnings of $98.4 million — all materially below the prior-year quarter. Revenue and operating margin contracted sharply YoY,…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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